From 2013 to 2023, the UK meat market experienced fluctuating yet overall positive growth. In 2013, the market stood at 12.782 billion Euros and gradually increased to 17.318 billion Euros by 2023. The highest year-on-year growth occurred in 2014, with a notable 10.78% increase, while 2015 and 2016 saw minor declines of -0.24% each. In more recent years, moderate growth rates around 2% were observed, leading to a 2.04% increment in 2023 compared to the previous year. The Compound Annual Growth Rate (CAGR) between 2013 and 2023 hovered around 2.43%.
Looking ahead from 2024 to 2028, the forecast suggests a steady growth with the market expected to reach 18.95 billion Euros by 2028. The annual growth rate is expected to slow slightly with a forecasted 5-year CAGR of 1.42%, culminating in an overall 7.32% growth over this period.
Future trends to watch for:
- Impact of plant-based and lab-grown meat alternatives on traditional meat market demand.
- Influence of environmental regulations and sustainability practices on supply chains.
- Consumer shifts towards healthier and ethically sourced meat products.
